# State Personnel and Pensions (GSP)

## Title 29. Benefits Other Than Service Retirement Benefits

### Subtitle 3. Deferred Vested Benefits

#### Section 29-302.1

(a) This section applies only to an individual who:

  (1) is a former member of:

    (i) the Employees' Retirement System; or

    (ii) the Teachers' Retirement System;

  (2) is eligible to receive a vested allowance under Sec. 29-302 of this subtitle; and

  (3) has not elected to receive a benefit under Sec. 29-302 of this subtitle.

(b) Notwithstanding Sec. 29-302 of this subtitle, an individual under subsection (a) of this section may elect a lump-sum payment equal to the present value of the individual's vested allowance if:

  (1) the vested allowance is less than $50 a month;

  (2)

    (i) the individual is not a member of the Optional Retirement Program and has terminated any employment with a participating employer for the State; or

    (ii) the individual is a member of the Optional Retirement Program and has terminated employment with an employing institution as defined in Sec. 30-101(e) of this article; and

  (3) the individual requests a lump-sum payment of the vested allowance on a form provided by the State Retirement Agency.

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Md. Code Ann., State Pers. & Pens. (as displayed at mgaleg.maryland.gov, October 16, 2026)